Motor Vehicles and Parts News
- Beijing News
Date: 13-Mar-2007 Sources: (Shenzhen Daily)
BEIJING Automotive Industry Holding, DaimlerChrysler's partner in China, is considering listing a major portion of its auto-parts assets prior to an initial public offering of the whole group, a company executive said yesterday.
State-owned Beijing Auto, which also has a manufacturing tie-up with Hyundai Motor Co., is awaiting municipal government approval to spin off its high-quality auto parts assets into a new company to be named Hainachuan, the executive, who asked not to be named, said. 'One option is to float the parts assets first, followed by a listing of the group company eventually,'he said.
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